EU Proposes Upgrade for Undersea Cables to Boost Digital Security

EU - European UnionThe European Commission has proposed that Europe upgrade its undersea cable networks, with governmental assistance if needed, as a calculated step to support the continent’s digital infrastructure, according to Reuters. Following cases of damage to two telecom cables in the Baltic Sea last year, there has been a growing worry about the security of these vital assets, which has led to the suggestion now being made.

With over 97% of all data traffic going through them, submarine cables are essential to global communication, Reuters stated in its article. As geopolitical tensions rise, the need to preserve these vital infrastructures has become more pressing.

The proposal from the European Commission would provide a thorough plan for protecting Europe’s undersea data channels. By using Cable Projects of European Interest (CPEI), it aims to promote the construction or significant renovation of key infrastructures while guaranteeing compliance with all applicable EU legislation, including those pertaining to state assistance.

Banks, EU Programs, European Investment Bank, Private Equity

Collaborative finance approaches, or CPEIs, combine government contributions and private investment under more advantageous conditions. Financial assistance for these initiatives may come from a variety of sources, including national promotional banks, EU programs, the European Investment Bank, and private financing institutions, among others, according to the paper from the Commission.

Read the full Reuters article here.